Premier Welcomes Lower Churchill Pledge

Premier Darrell Dexter welcomed the pledge in the federal Speech from the Throne to support development of the Lower Churchill hydroelectric project.

"The Prime Minister pledged his support for the project during the Speech from the Throne as he said he would," said Premier Dexter. "We have said all along that this is a great national project and I am glad the Prime Minister sees it that way as well and has reiterated government's support for it in the throne speech."

In previous months, Prime Minister Stephen Harper had announced his commitment to provide support for the project through a loan guarantee, or equivalent financial support.

The Lower Churchill project will guarantee Nova Scotia an abundant supply of clean, green hydroelectricity for more than three decades. It will account for between eight and 10 per cent of Nova Scotia's total power needs when it starts flowing in 2017.

"This is a win-win situation for all of us," said Premier Dexter. "Nova Scotians are tired of rising electricity bills and they want to see stable electricity prices. This project and the federal government's support will go along way to keeping electricity prices down in the early years and making life more affordable for Nova Scotians."

The benefit of federal support for the project will go directly to keeping prices down for ratepayers.

The Lower Churchill project will create 21,000 people years of employment and $3.5 billion in income for labour and business in Atlantic Canada. The project will make a significant contribution to air quality targets, lowering greenhouse gas emissions by one million tonnes per year. It will also help the province achieve its aggressive target of 40 per cent renewable electricity by 2020.